April 2019 — Question 2
What is the maximum continuous period of time that a partnership, association or corporation can operate without at least one member or officer who holds a valid individual broker’s license before the license is revoked by operation of law?
- A30 days
- B60 days
- C120 days✓ CBP's answer
- D180 days
- EUntil March 31st of the reporting year
Why this answer
Under the edition tested, 19 CFR 111.45(a) provided that if a partnership, association, or corporation fails for any continuous period of 120 days to have at least one member or officer who holds a valid individual broker's license, the organization's license is revoked by operation of law. The same section supplies the tempting distractor: the 180-day period belongs to the companion permit rule, which revokes a district permit when no licensed individual is employed within that district for 180 continuous days. Because the question asks about the license itself, not a permit, 120 days controls and option C is keyed. Watch for: Confusing the 180-day district-permit employment rule with the 120-day license rule.
Original CBLE Simulator explanation — the question and key above are CBP's; this analysis is ours. Verify against the current edition before relying on it in practice.
CBP's cited authority
Answer and citations as published in CBP's official answer key for the April 2019 examination.
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